FOR CUSTOMERS

Use the value you’ve built to refinance your mortgage.

You’ve built real value in your home. Refinancing lets you access your home equity and use it intentionally – fund a renovation, consolidate debt or build your wealth. A First National mortgage specialist will guide you through the process, explain each step and get it done quickly.

What you can do with your equity

Use the value you've built in your home to support the goals that matter most. Whether it’s more strategic debt, home improvements, investments or education, put the equity you've built to work for you.

Consolidate debts

Pay off higher interest debts and consolidate multiple payments into one. You end up saving money and reducing the time you spend managing debt.

Fund a renovation

Dreaming of that spa washroom? Planning a basement apartment? Or finally tackling the deck and backyard? Your home’s equity can help fund renovations for your home and potentially improve its value.

Support financial priorities

Reallocate your home’s equity to investments to help build wealth or help family members with education, buying a home or later in life care.

HELPFUL TOOLS

What you need to get started

Getting your documents together before you apply can help keep the refinancing process moving smoothly. Gather the following information before speaking with a mortgage specialist:

Recent pay stubs
T4s
Notices of assessment
Letter of employment
Government ID
Overview of assets and liabilities
A lawyer or notary to finalize the transaction

First National may require an appraisal. We will arrange this on your behalf. Fees may apply.

3 benefits of refinancing

Manage debt and monthly expenses more effectively or renovate to improve the value of your home.

Common questions about refinancing

Here are the questions we hear most about refinancing – how it works and the timing and costs involved.

Can I refinance my mortgage before my maturity date?

Yes. You can apply to refinance after you’ve had your mortgage for at least one year. If you choose to refinance before your maturity date, prepayment penalties and administrative fees may apply.

Do I have to requalify to refinance my mortgage?

Yes. When you refinance, you are essentially closing your existing mortgage and opening a new one with additional funds. So, you will have to requalify for the new mortgage amount.

What if I don’t need to borrow additional funds? Do I still need to refinance my mortgage?

If you don’t want to borrow more, refinancing does not apply to you. If you are approaching your maturity date and simply want to move into a new term, you can renew your mortgage in three easy steps-right in your My Mortgage^® account. Learn more here.

Are there any costs involved in refinancing?

Refinancing costs can include:

Any prepayment charges or administrative costs
An appraisal requested by First National to evaluate your refinancing eligibility
A lawyer or notary to finalize your refinance

To learn more about prepayment charges or other costs associated with refinancing and whether they apply to you, please review your original mortgage documents or contact a First National mortgage specialist on My Mortgage^® or by calling 1-888-670-2111.

How long will it take to refinance my First National mortgage?

Every situation is unique, but refinancing typically takes about one month from start to finish. Being prepared helps speed the process. Review the checklist above for a list of documents and information to have ready before speaking to one of our mortgage specialists. It is always our goal to work as quickly and responsively as possible. If you have questions about initiating the process or about what’s required, reach out to a mortgage specialist on My Mortgage^® or call 1-888-670-2111 to speak to someone on our team.

Real people. Real mortgages. Real value.

First National keeps everything simple and accessible! As a first-time home buyer, it made things a little easier to be able to understand and work with!

– Jessica G., British Columbia

First National was always my first choice for a mortgage. The customer service is top notch, their portal is user friendly, and rates are amazing. If you choose First National you won’t be sorry! I’m looking forward to partnering with them to make my home ownership a reality.

–Catherine P., Ontario

I strongly encourage people to consider First National by saying that this lender is THERE for YOU. They will make sure to review which options are best for you and your family. They also are available to answer any questions that you need to know especially for first time home buyers!

–Sheila M., Manitoba

First National realizes that its customers are real people and make it easy to structure payments in a way that works for you and your budget. Help is easily accessed if you have any questions, and with the biggest investment of your life, that is extremely important.

– Catherine D., British Columbia

First National was able to provide me the best mortgage rate and customer service at the time of purchasing my home. Since then, I have received the same level of commitment from First National to help me reach my home ownership goals and to help pay down my mortgage. Their online self-serve options are very user friendly and easy to understand. I always know how I'm progressing with my mortgage and know that I have support if I have questions or concerns. I would recommend First National in a heartbeat.

–Colin L., Ontario

First National provided the most competitive rate for our mortgage, has great customer service, and keeps me up to date and informed in an easy-to-understand way. Their website and products are intuitive and I feel secure having my mortgage through First National.

– Meghan W., Ontario

My wife and I work tirelessly to provide for our family. Thanks to First National's competitive interest rates, low penalties, and generous prepayment options, we have been able to save more money for our children's future and our retirement.

– Kyle F., British Columbia

I have always received exceptional service which is why I came back to First National! My representative was very attentive and prompt in their responses to all my many questions. I have always been treated with respect and feel that First National goes above and beyond to create a personalized experience. I have never felt like just a number!

– Laura V., Ontario

We always receive exceptional service when we have questions. There is no delay or waiting. There is always someone happy to answer our questions or concerns. Thank you so much to your incredible team.

– Mylene L., Quebec

I have been with First National for over 10 years and am looking forward to being with them for as long as we have a mortgage. I will definitely be sharing this company with my children, so they can enjoy the same benefits I did. Thank you.

– Beth-Ann W., Ontario

It was a pleasure dealing with First National with no issues as they always put the customer first. They treat you like family and have been very understanding. Always looking out for the best possible solution. Truly the best.

– Shayne M., British Columbia

First National has allowed us to realize our dream to live in an exceptional home in British Columbia. Not only that, but their options to pay down our mortgage faster has offered us the potential to own our home faster than we had originally planned. Now, we can realize important life goals sooner than later. First National has enabled us, through flexible payment options, to make choices to tackle our mortgage head-on so that we can experience our dreams -- all while knowing we have a home and it is ours. Thank you, First National!

– Jason N., British Columbia

Like most Canadians, my husband and I always try to save money and make smart financial decisions. After speaking with a First National representative we were able to save on interest and pay down our mortgage in a timely manner. They not only helped us decrease the length of our mortgage but did it in such a way that made us feel in control. Thank you!

– Josee S., Ontario

Being able to painlessly review paydown scenarios and then actually pay down my mortgage is great. No more setting up an appointment and guessing how different scenarios play into my longer term financial goals - all of this can be done online in minutes.”

– Bryan G., Alberta

Thanks to First National I was able to get my first place! I have been enjoying the ability to turn a simple condo into my own home. So far, the projects have been small, but eventually the full place will be transformed. I’m taking great pride in home ownership so far, thank you First National!

– Roger B., Ontario

First National allowed us as first-time home buyers to finally start a family, we are expecting our bundle of joy soon and are excited to raise our baby in our beautiful home and we couldn’t be more happy and grateful.

– Tristan L., Ontario

First National has been an amazing partner in the financing of our home. They are a balance of unobtrusive and not pushy but highly informative and right there when you need them. As someone who was anxious about the home buying process, I couldn’t have asked for a more fluid and easy experience.

– Dennis M., Newfoundland & Labrador

Having First National in our life is worthy of a blessing. They take care of everything to make our life easier, because we know that having a home already has its share of tasks! With them, no problems. Just good service and speed.

– Patricia P., Quebec

This was my very first mortgage. I was nervous as it was completely new to me. I spoke to a representative after receiving my Welcome Letter. She was extremely patient in taking her time to explain everything to me in detail. As a result, I ended up with a mortgage tailored to my needs. I am grateful for outstanding service such as this! To that representative I spoke to, thank you again!

– Kevin F., Alberta

I love the online account where I can log in and see how much we’ve paid, how much we still owe and if needed, I can make changes to fit our family. First National Financial is awesome!

– Christina Y., Alberta

The simple, stress-free way to manage your mortgage.

Manage your mortgage how you want, when you want. Log in to My Mortgage® at mymortgage.firstnational.ca – it’s easy to understand, easy to use and will save you time.